Pankaj Ojha, Captain, Launchpad in an exclusive interaction with 99acres.com discusses about the real estate scenario in Pune.
1. What is the general home-buying sentiment in your city?
The festive season is the auspicious time to buy new things. With real estate getting streamlined buyers are getting confident towards buying property. However, the homebuyers are adopting a cautious approach. They are inspecting every offer and comparing products from a quality standpoint. They do not want to make a hasty decision just for the sake of buying or a promotional scheme.
2. How have sales, new launches and property price movement been in the last three quarters?
With stringent laws that aim to protect homebuyers’ interest, a better future is anticipated for the real estate sector. Despite the current turmoil in market sentiments and an increase in the home loan interest rate, buying will not affect the festive spirit. Moreover, developers are ready with a bouquet of offers which is icing on the cake. Altogether, with piling unsold inventories and developers eager to dispose of the existing stock, this is the best time to own a house or investment in real estate
3. How have the city developers prepared for the festive quarter? What kinds of deals are floating in the market?
The festive season is the best time to invest, and reportedly, one-third of the property sales can be attributed to this time period. Since developers are offering a host of schemes and discounts, it is touted to renew sales in couple with incentivising loan schemes from financial institutions. While earlier property shows were more popular and garnered higher traction, they have so regular that they have lost their exclusivity, and therefore freebies and discounts are indeed are considered more beneficial in attracting homebuyers.
4. Do you think these deals will help lure buyers and augment sales?
The market is inundated with a plethora of attractive options. However, buyers should not be swayed by the offers and should be careful about choosing the right property. They should focus on factors such as a RERA compliant project, better construction, and innovative technologies
5. Do you see a favourable price movement post the festive season?
The auspicious time of festive period attracts first-time homebuyers as well as others like the second home investors. The most preferred property units in demand are 2 BHK and 3 BHK, and of course, there are demands for bigger homes like 4 BHK. Therefore we see a lot of offers during festive seasons that attract these buyers so that they invest in properties. But the post-festive season, we rarely see people making investment decision due to various factors.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.